Hi Joe & All.....I guess everyone has seen this but here it is:
Subject:
Starpoint Goldfields News Release October 24/97
Date:
Tue, 28 Oct 1997 09:36:13 -0800
From:
Starpoint Investor Relations <sts@starpoint.com>
STARPOINT GOLDFIELDS INC.
902 - 626 W. Pender Street
Vancouver, B.C. Canada V6B 1V9
Tel: 604-688-6838
Fax: 604-688-6839
Toll Free 1-800-852-8885
October 24, 1997
* * * N E W S R E L E A S E * * *
Listed: VSE:STS
GOLD PROPERTIES IN THE DEMOCRATIC REPUBLIC OF CONGO
Starpoint Goldfields is pleased to announce that it has been able to acquire the mining records and detailed maps on its northeast gold mineral concessions in the Democratic Republic of Congo from the Belgian mining companies who operated there prior to Independence in 1960. These records have been uncovered in the Royal Museum of Central Afrika in Belgium by Starpoint staff and independent geologist Gordon G. Richards, P.Eng. and a summary of the data on one of Starpoint's properties is contained within this release. The information obtained from the above Institute has enabled Starpoint to advance quickly on development of one of the main targets on one of the Concessions.
After review of the documents and for clarification purposes, Starpoint's Adumbi-Yindi Concession will be referred to as the "Ngayu West Concession" and is the focus of this release.
A study of the volumes of detailed mining records, maps and exploration targets by the early operators on the Ngayu West Concession may be briefly outlined as follows:
1. "The Ngayu West Concession covers Archean greenstones with alluvial and
eluvial gold production.
2. Recorded gold production is 10 tons of gold from alluvial deposits and 0.5 tons
of gold from eluvial deposits when gold was economic at $35.00 per ounce.
3. The Mambati (see attached gold production map) eluvial deposit is considered
a direct lead for exploration of unweathered primary ore, i.e., below surficial
weathering, lying immediately beneath portions of the 7 km trace of eluvial mining.
4. Other leads to mineralization also occur on the Concession and include the following:
the 1 km by 3 km zone of indicated eluvial gold 3 km north of the main Mambati
zone; the area north of Imva containing small areas of eluvial gold production
and quartz veins within an extensive area of alluvial gold; the area of alluvial
gold production northeast of Mambati containing numerous quartz veins and eluvial mining at Babeyru-B. Detail of this mining and testing is being forwarded to Starpoint from the Museum. The large area of alluvial gold production north of the area described has no direct leads at present but is considered an excellent target for lode gold exploration.
5. Lode gold production is known from other greenstone belts east of Starpoint's
concessions with widths of veins in the range of 0.5 to 2 m. "Grades are variable
but generally reported as 6 to 10 g/t".
The vast amount of information combined with the expert assistance received from the economic geologists at the Museum, has enabled the Company to advance its exploration schedule. A team of Congolese and Canadian geologists headed by Gordon Richards, P.Eng. will arrive at the Property early November to begin geochemical soil and rock sampling to define the size and intensity of mineralization. If the mineralization is as indicated in the records, drill targets will develop quickly.
The Belgian geologists are continuing their review of Starpoint's concessions and reports will follow beginning mid November. A review of all data relevant to Starpoint's concessions is ongoing and detailed reports on the two additional northeast concessions, the TELE and PANGA, are expected in December and January.
Starpoint Management is very encouraged by this extremely detailed information which confirms earlier data. The Company has prepared an aggressive work program and anticipates promising results.
The summary report prepared by Gordon Richards is available on Starpoint's website at www.starpoint.com.
ON BEHALF OF THE BOARD OF DIRECTORS
STARPOINT GOLDFIELDS INC.
"F. R. Ilott"
President
The Vancouver Stock Exchange has neither approved nor disapproved of the contents herein. |
